SHANGHAI, Feb 5 (SMM) — Stocks of copper in Shanghai bonded areas decreased for second consecutive weeks on smaller arrivals.
SMM data showed that the stocks fell 7,000 mt from the prior week to 344,500 mt as of Friday February 5.
Arrivals at port were limited due to the delayed shipment of copper cathode in South America and Africa. There was still demand for customs declaration and import as the financing quota was abundant. This also accounted for the continuous decrease of bonded inventories.
